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Wednesday, May 8, 2013

CEO John Donahoe says only that the company is exploring options
concerning bitcoins. “It’s a new disruptive technology, so, yeah, we’re
looking at Bitcoin closely,” Donahoe says. “There may be ways to enable
it inside PayPal.”
Donahoe is quick to point out that eBay is not yet committing to the
digital money. As with Napster, Donahoe said, the first time these
concepts pop up, they often fail but make way for more legitimate
versions later. He pointed to Pandora and Spotify as examples.
Still, bitcoins are gaining in popularity. Just last month, the U.S.
Department of the Treasury announced that it will be applying
money-laundering rules to all virtual currencies, including bitcoins.
That places bitcoins under the same regulatory rules as money orders and
checks.SOURCE

Monday, January 28, 2013

We've been made aware of site issues today & are working
to get this resolved. Apologies for any inconvenience. Will update
asap. Tks, MW

Downrightnow.com, which tracks the online availability of different sites, has recorded a string of outages for PayPal today.
As of around 8:30 a.m. PT, PayPal had been up for the previous 30
minutes or so. But the site had previously been down for one long
stretch and several shorter stretches starting early Monday morning.
PayPal users have reported other problems, such as delays in payment processing and transactions.
Users chiming in on PayPal's forum say that transactions are not showing up right away on their activity pages. As a result, some have made multiple payments for the same item.
Based on the forum comments, the glitches appear to be affecting people across different countries, notably in Europe.

Related stories

A Web Site called Blue Griffon
said PayPal is "apparently suffering from severe system glitches."
People who pay for Blue Griffon items through PayPal could be hit with
long delays before receiving a link to download their purchases. The
site added that it's seen reports from other sellers complaining of the
same issue.
Daniel Glazman, a co-chairman of the W3C CSS Working Group and
developer of the BlueGriffon software, said on his blog today that PayPal apparently ran a system upgrade on Friday. And since this morning, he's seen delays in the notifications that PayPal sends to shopping baskets and sellers.READ MORE

Monday, January 7, 2013

Small city to be built for vegetarians on Mars

Private space entrepreneur and billionaire
co-founder of Paypal, Elon Musk is planning to build a small city on
Mars for 80,000 space explorers - but only vegetarians are invited!

Musk,
whose Falcon 9 rocket delivers NASA cargo to the International Space
Station, wants to construct a futuristic settlement on the red planet.

The new civilization would run off sustainable technology and cater only to vegetarians, The Sun reported.
Speaking to the Royal Aeronautical Society, Musk, 41, revealed he had been waiting ten years to share his vision.
“Then
it seemed ridiculous because there were no rockets, no infrastructure
and NASA was the only game in town - and it had no schedule for
exploring Mars,” said the co-founder of PayPal, a global e-commerce
business.

“But with my work, and many others working in the private sector, the mission is coming closer to reality,” he added.

“On Mars you can start a self-sustaining civilization and grow it into something really big,” he said.
The
146-year-old Royal Aeronautical Society last November awarded Musk, who
founded his third company SpaceX in 2002, a gold medal for his
contribution to space exploration.

The California-based engineer
has previously talked about sending the Mass Cargo Transport rocket -
powered by liquid oxygen and methane, to Mars - carrying volunteers for
about £3,00,000 a person.

One of America’s most respected private
space entrepreneurs, Musk - worth about £1.25 billion - has admitted
the challenges remain daunting. These include the dangers of deep-space
radiation, bone-rot and toxic dust.
He recommends the size of the new society should be around 80,000 people.

“Too few, and the gene and culture pool dries up. Too many and you risk civil war,” he said.

PayPal, the internet money-transfer arm of eBay, is to disclose the
identity of customers who use the service to evade paying US taxes.

The Internal Revenue Service (IRS) is demanding records of customers
using Paypal through offshore accounts in all tax havens, including
Jersey, Guernsey, Isle of Man, Gibraltar and other UK dependencies.

According to the IRS, PayPal's services have proved very attractive to
tax evaders and the problem is growing. Customers can buy goods from
eBay and many other shopping websites, pay for them from untaxed income
held offshore and get the goods sent to their home address.

Tax authorities are also concerned that PayPal can be used to "launder"
untaxed money between an individual's offshore and domestic accounts.

The IRS said: "Because the elements necessary to transfer money require
only two email addresses attached to two bank accounts and/or credit or
debit cards, PayPal's structure not only allows persons with monies held
in a foreign account to purchase goods and services, it also allows a
person with assets secreted in a foreign country to repatriate them to
their own domestic bank account without going through traditional
banking methods such as a bank-initiated wire transfer."

The IRS is the first domestic tax agency to take action against tax evaders using PayPal.

Founded in 1998, PayPal has 76 million accounts and is available in many
parts of the world. It now has more account holders than American
Express, and eBay's 2005 second-quarter figures celebrated a 49 per cent
increase in the value of payments made through PayPal, to a record
annual total of $6.5bn (£3.7bn).

The IRS has asked a federal court for permission to serve a "John Doe"
summons on PayPal as part of a clampdown on tax evasion using offshore
credit and debit cards. The IRS petition says: "The records requested in
the summons will identify the holders of bank accounts at, or payment
cards issued by banks in, the listed jurisdictions."

It follows successful IRS applications to file similar summonses on
MasterCard, American Express and Visa as part of its investigation of
offshore tax evasion. The IRS says "over $40bn in federal tax revenue is
lost every year due to the use of credit cards linked to accounts held
in foreign tax havens".

In October 2011, federal CIO Steven VanRoekel gave
federal agencies three years to allow third-party credentials to
validate identities for citizens wanting to do business with them
online. As a part of the National Strategy for Trusted Identities in
Cyberspace (NSTIC), the Federal Cloud Credential Exchange encourages
secure citizen-to-government interactions by removing the requirement
that people set up separate usernames and passwords with individual
agencies.
Acknowledging growing citizen expectations for online services, procurement documents describe
the challenges faced by users drowning in dozens of online accounts and
agencies struggling to cost-effectively provide online services.
According to Information Week,
a new pilot program at the U.S. Postal Service will test acceptance of
third party identity verification services like PayPal and Google for
use in government transactions. The large scale test needs to support
approximately 135 million U.S. Postal Service customers and up to 1
million transactions per hour. Several vendors, including Symantec,
Xceedium and Amazon Web Services, have indicated interest in
participating in the pilot program.
Several other pilot programs, including some in cryptography and
online privacy, are also being conducted in conjunction with NSTIC,
according to Information Week.Image: Steven Good / Shutterstock.com

You may use or reference this story with attribution and a link to http://www.govtech.com/e-government/Paying-Taxes-Using-PayPal.html

Saturday, November 3, 2012

Political Fundraising with Paypal

PayPal has a sources and recommendations for consumers who want to do political fundraising. These means really should be useful to any nearby candidates who want to increase money on-line. There’s even a segment for amassing cell donations!

When an account is created, campaigns can create donation buttons and hyperlinks. To empower donors to lead to your marketing campaign or PAC on a regular timetable, you can apply PayPal recurring donations by employing the Subscribe button. PayPal’s Personalized Cost Webpages function provides you the potential to tailor PayPal’s payment pages to the design of your political organization’s website, delivering donors with a seamless payment expertise.

Because PayPal is straightforward to established up and administer, we typically recommend the support to our clients.

one) Generate a campaign bank account.

2) Indicator up for a PayPal Enterprise Account.a. Select Nonprofit as the business varietyb. Decide on Political as the subcategory

3) Validate that your political campaign account is a nonprofit,. You will need to have to submit a tax letter from the IRS and a lender assertion or voided check out in the identify of your group, alongside with your PayPal electronic mail account and contact specifics, to compliance@paypal.com.

four) Add a Donate button to your campaign’s internet site. Use the button designer on PayPal.com to generate your button, then just copy and paste the ensuing code into your website.

Do open your account earlier, as there is some verification to complete ahead of your account can be established up!

Note that your organization will be liable for gathering donor data, this sort of as employer and profession, and obtaining permission from donors just before sending future advertising outreach.